Why have car sales boomed? Read on.
It's been nearly a year since the outbreak of the coronavirus pandemic and the world has changed in more ways than most probably realize. Aside from changing our lifestyle habits, consumer habits have also evolved. As one of the world's largest corporations, Ford Motor Company was determined to understand how consumers, communities, and businesses are adapting to new living and working conditions, traveling, and, of course, buying habits.
Ford's Chief Futurist Sheryl Connelly has just released the Detroit automaker's annual Trend Report and this year's findings are unlike any other. The report consisted of a global survey of 14 countries based on 13,005 online interviews and here are some of the key findings: 69 percent of respondents feel overwhelmed by global changes, 53 percent found it harder to adapt to these changes than they thought while 47 percent say it was easier.
Younger people, specifically Gen Zers, also say it's been equally hard to adapt. But how do cars play a role here? Because respondents view their vehicles as a way to escape from the monotony of the pandemic. More than 1 in 4 adults who own a car use their vehicle to relax, 1 in 5 use it to seek privacy, and 17 percent actually use their car as sort of a mobile working office. Respondents indicated they appreciate the way companies, including automakers, have responded to the "new normal" by improving the shopping experience, such as e-commerce.
Automakers have made it easier than ever to buy a new vehicle online without ever having to step foot in a dealership. Buyers of the new Ford Mustang Mach-E, for example, are more likely to purchase the vehicle online and the automaker expects this trend to expand throughout its lineup of both EVs and non-EVs.
A total of 41 percent of those surveyed don't want to return to the old ways of shopping. Car sales have also boomed in recent months, as we're well aware, but the question is why? Because a car is a way people feel they can control their environment as it provides security. Bike sales have also soared as a result of empty city streets.
And here's something every automaker needs to pay close attention to: 67 percent of surveyed adults say they're "hopeful about the future of autonomous vehicles" and 68 percent of parents want their kids to ride in a self-driving car than with a stranger.